Lee Sharpe looks at some recent developments in the approach to salary advances.
This article looks at the taxation of advance payments in the context of the growing issue of short-term and third-party arrangements.
The phrase ‘cost of living crisis’ has become something to which some of us may have become inured through prolonged and repeated exposure. But a significant number of people continue to struggle with their personal cashflow, nevertheless.
Payroll legislation has accommodated the payment of advances on salary for a long time. What is relatively new is that third parties have started to get involved – and on a large scale, with national employers such as BUPA and numerous NHS Trusts having set up arrangements with third parties to ‘assist’ their staff.
For example, the ill-fated Greensill Capital reportedly owned Earnd UK, which at one stage claimed
